TD Asset Management Inc. increased its stake in Rio Tinto PLC (NYSE:RIO) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,878 shares of the mining company’s stock after acquiring an additional 1,051 shares during the quarter. TD Asset Management Inc.’s holdings in Rio Tinto were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. HPM Partners LLC increased its holdings in Rio Tinto by 1.3% in the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock worth $432,000 after acquiring an additional 132 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Rio Tinto by 2.7% in the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock worth $425,000 after acquiring an additional 264 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Rio Tinto by 2.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock worth $500,000 after acquiring an additional 281 shares in the last quarter. Acrospire Investment Management LLC increased its holdings in Rio Tinto by 13.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after acquiring an additional 299 shares in the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in Rio Tinto by 3.7% in the 2nd quarter. ETRADE Capital Management LLC now owns 8,872 shares of the mining company’s stock worth $375,000 after acquiring an additional 315 shares in the last quarter. 7.20% of the stock is owned by institutional investors.

Several brokerages recently commented on RIO. ValuEngine lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. J P Morgan Chase & Co lowered shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, November 13th. Citigroup reaffirmed a “buy” rating on shares of Rio Tinto in a report on Tuesday, December 5th. Royal Bank of Canada lowered shares of Rio Tinto from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $47.87 to $48.37 in a report on Monday, October 23rd. Finally, Cowen set a $47.00 target price on shares of Rio Tinto and gave the stock a “hold” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Rio Tinto presently has an average rating of “Buy” and a consensus target price of $51.59.

Rio Tinto PLC (NYSE RIO) traded down $0.54 during trading on Friday, hitting $48.06. 3,277,200 shares of the stock were exchanged, compared to its average volume of 3,250,802. Rio Tinto PLC has a fifty-two week low of $37.66 and a fifty-two week high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

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Rio Tinto Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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